Interest on excess refunds: assessee must pay simple interest when a refund exceeds assessed entitlement until regular assessment. An assessee must pay simple interest on any refund granted that is ultimately not due or that exceeds the refundable amount determined on regular assessment; interest accrues from the date the refund is granted until the date of regular assessment and is varied to reflect any rectification, revision or appellate order under the Code.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on excess refunds: assessee must pay simple interest when a refund exceeds assessed entitlement until regular assessment.
An assessee must pay simple interest on any refund granted that is ultimately not due or that exceeds the refundable amount determined on regular assessment; interest accrues from the date the refund is granted until the date of regular assessment and is varied to reflect any rectification, revision or appellate order under the Code.
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